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Wall Streeters Are Likely To Take Pay Cuts Instead Of Getting Laid Off This Year Wall Street firms will choose pay reductions over job cuts to limit expenses this year, said Betsy Graseck, a Morgan Stanley bank analyst in New York. Compensation will probably drop from a year ago as banks attempt to avoid further headcount reductions, Graseck said today in an interview on Bloomberg Television’s “Surveillance” with Tom Keene and Scarlet Fu. Cuts will come from bonuses rather than base salaries, Graseck said. Read more: http://www.businessinsider.com/wall-street-will-likely-take-a-pay-cut-2012-9#ixzz27lzVCXH1

Wall Streeters Are Likely To Take Pay Cuts Instead Of Getting Laid Off This Year

Wall Street firms will choose pay reductions over job cuts to limit expenses this year, said Betsy Graseck, a Morgan Stanley bank analyst in New York.

Compensation will probably drop from a year ago as banks attempt to avoid further headcount reductions, Graseck said today in an interview on Bloomberg Television’s “Surveillance” with Tom Keene and Scarlet Fu. Cuts will come from bonuses rather than base salaries, Graseck said.



Read more: http://www.businessinsider.com/wall-street-will-likely-take-a-pay-cut-2012-9#ixzz27lzVCXH1